Vodafone Group Plc named Gerard Kleisterlee, the chief executive officer of Royal Philips Electronics NV, as chairman to replace John Bond.
Kleisterlee, 64, is due to step down as Philips CEO in March. He will be appointed as a non-executive director of Vodafone on April 1 before becoming chairman at the annual meeting in July, the U.K. company said today in a statement.
WHAT TO WATCH FOR: *The chief executive officers of Aegon NV and ING Groep NV will appear before parliament today to talk about the financial industry.
EQUITY MOVERS *CSM NV agreed to buy Classic Cakes Ltd. with annual sales of 11.4 million euros ($15.8 million) in the U.K. *Randstad Holding NV was raised to “buy” from “underperform” at Bank of America Corp. *SBM Offshore was raised to “neutral” from “underperform” at Goldman Sachs Group Inc. *TNT NV’s express business in Europe was negatively affected by exceptionally adverse weather conditions in December.
MARKETS: *The Amsterdam Exchanges Index added 1.8 percent to 367.11. *The Stoxx Europe 600 Index gained 1.5 percent to 284.20. *The Euro was at $1.3840 at 8:10 a.m. Amsterdam time. *The Dutch 10-year bond yield was 3.374 percent at 8:10 a.m.